J.C. Penney Lays off 350
J.C. Penney announced on Tuesday plans to lay off about 350 workers at its headquarters in Plano, TX.
News
Brentwood Associates Acquires Sundance Catalog
Private equity firm Brentwood Associates has acquired a majority stake in women’s apparel and accessories, jewelry, and home furnishings seller Sundance Catalog from ACI Capital, Webster Capital and Sundance catalog founder Robert Redford, who will retain minority stakes in the 23-year-old company.
NRF: Retailers Dismayed by Supreme Court Decision
The National Retail Federation said today that it is disappointed that the U.S. Supreme Court upheld the constitutionality of the Affordable Care Act. Here’s what NRF CEO Matthew Shay – and Retail Industry Leaders Association president Sandy Kennedy – had to say about the decision, and how it will affect its constituents.
Sealed Air, Ecovative Design Complete Deal on New Sustainable Packaging Material
Sealed Air will be the exclusive licensee of Ecovative Design
Bare Necessities Launches Another Digital Catalog
One month after launching two digital catalogs, intimate apparel merchant Bare Necessities has launched a new digital catalog for Chantelle, a French lingerie brand.
Facebook Acquires Face.com
Social media goliath Facebook announced that it has acquired Face.com, a face recognition program. The deal brings the technology vendor in-house to Facebook. Terms of the deal were not disclosed.
Walgreens Stakes Claim in U.K.’s Alliance Boots for $6.7 Billion
Walgreens announced that it has invested $6.7 billion for 45% of ownership in the UK based pharmacy retailer Alliance Boots. Walgreens could take complete control of Alliance Boots in 2015.
Lunch on Monday? No, I’ll Be Shopping Online
Midday on Mondays is the peak time for American consumers to shop online, according to May data compiled by Buy.com, Rakuten
Parcel Consolidator Streamlite Ceases Operations
Parcel consolidator Streamlite ceased all operations today after nearly seven years in business. On its website, the Atlanta-based company posted the message below.